Monday, 26 August 2019

Business

Tesco axes 1,200 jobs at head office

LONDON: The supermarket giant informed affected staff on Wednesday morning about the cull, which amounts to a quarter of employees at offices in Welwyn Garden City and Hatfield. A number of jobs at a support centre in Bengaluru, India, will also be cut. Tesco is in the midst of a ...

Read More »

Sexual appeals in ads do not sell products: Study

Do partially or fully nude models in advertisements help in sale of products or brands? No, they do not is the flat conclusion of an analysis of nearly 80 advertising studies. “We found that people remember ads with sexual appeals more than those without, but that effect doesn’t extend to ...

Read More »

Uber chief executive Kalanick resigns as CEO

PARIS: Uber boss Travis Kalanick has resigned as chief executive after pressure from shareholders. Mr Kalanick will remain on the board of the ride-hailing firm, however. His resignation comes after a review of practices at the firm and scandals including complaints of sexual harassment. Last week he said he was ...

Read More »

Britain and EU launch Brexit talks in Brussels

LONDON: Brexit Secretary David Davis starts negotiations in Brussels on Monday that will set the terms on which Britain leaves the European Union and determine its relationship with the continent for generations to come. Almost a year to the day since Britons shocked themselves and their neighbours by voting on ...

Read More »

Tesco sales growth accelerates in first quarter

LONDON: Higher inflation helped sales growth pick up at Tesco at the start of the year, but the company said its efforts to limit the impact of cost increases in “tough market conditions” were helping it maintain momentum in its efforts to win back customers. Tesco reported its first UK ...

Read More »

Scottish Government faces £60m fine over farming IT system

LONDON: The Scottish Government could still face fines of up to £60m over the troubled IT system set up to deliver European Union farming payments. A new report from auditors has warned ministers of the “significant risks and costs” the system still poses, including the possibility of incurring financial penalties ...

Read More »

UK inflation rate rises to 4-year high

LONDON: British inflation unexpectedly jumped to its highest level in nearly four years in May, tightening the squeeze on consumers who now face the added worry of political uncertainty after last week’s inconclusive election. The impact of the fall in the pound since last year’s Brexit vote made itself felt ...

Read More »

Sterling stunned by UK election shock, fallout limited elsewhere

PARIS: Sterling spiralled lower on Friday as British elections left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. With the majority of seats counted in the snap vote, British Prime Minister Theresa May had ...

Read More »

Shareholders settle multimillion-pound claim against RBS

LONDON: Shareholders who brought a multimillion-pound High Court action against Royal Bank of Scotland (RBS) have settled their claim against the lender, sources have said. The RBS Shareholder Action Group, which brought the £700 million lawsuit and represents 9,000 retail investors and 18 institutions, is understood to have informed the judge that ...

Read More »

Uber criticized for surge pricing after London terror attack

LONDON: Uber has been accused of taking too long to turn off its “surge pricing” feature after a deadly terror attack in the heart of London. App users complained that they were being charged inflated prices on Saturday night after a van plowed into pedestrians on London Bridge and three ...

Read More »